What To Know:
- BitGo has filed for a U.S. IPO seeking to raise up to $201 million by offering 11.8 million shares priced between $15 and $17.
- This range could value the crypto custody firm at as much as $1.96 billion, above its last private valuation of $1.75 billion in 2023.
- Founded in 2013, BitGo focuses on securing digital assets for exchanges and institutional investors.
Crypto custody platform BitGo has filed an initial public offering that could value the company at as much as $1.96 billion. The US-based firm said on Monday that it is aiming to raise up to $201 million through the sale of Class A common stock. The move might be one of the latest efforts by a major crypto infrastructure provider to test investor appetite in US equity markets.
BitGo Files For US IPO
BitGo and several of its existing shareholders are offering a combined 11.8 million shares, priced between $15 and $17 apiece, according to the company’s filing. At the top end of that range, the offering would place BitGo’s valuation above its most recent private funding round in August 2023, when the company was valued at $1.75 billion.
Founded in 2013, BitGo has built its business around a service that sits quietly behind the scenes of the crypto economy: custody. The firm stores and secures crypto assets for exchanges, funds, and institutional investors, a role that has gained prominence as large players demand higher security standards and regulatory clarity.
With crypto markets maturing, custody has now emerged as a foundational layer, instead of a niche service. Goldman Sachs is acting as the lead book-running manager for the IPO, and Citigroup is a book-running manager. Other banks involved in the deal include Deutsche Bank Securities, Mizuho, Wells Fargo Securities, Keefe, Bruyette & Woods, Canaccord Genuity, and Cantor. Clear Street, Compass Point, Craig-Hallum, Rosenblatt, Wedbush Securities, and SoFi are participating as co-managers.
BitGo plans to list its shares on the New York Stock Exchange under the ticker symbol “BTGO.” In its announcement, the company emphasized that its registration statement has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. Until that process is complete, shares cannot be sold and offers to buy cannot be accepted.
The move had been widely anticipated. In February, reports hinted that BitGo was considering an IPO as early as this year, but no formal paperwork had been made public at the time. The filing now places BitGo firmly within a growing group of crypto-related firms seeking to access public capital after years of private fundraising and market volatility.
BitGo’s timing reflects a broader reopening of the IPO window for crypto firms. Stablecoin issuer Circle went public in June 2025 under the ticker “CRCL,” delivering one of the most closely watched debuts in the sector. Its shares soared more than 168% on the first day of trading, far exceeding expectations. The uptick also indicates renewed investor interest in regulated crypto businesses with clear revenue models.
Other firms have followed similar suit. In August, crypto platform Bullish filed for a U.S. IPO, aiming to raise $629.3 million by offering 20.3 million shares priced between $28 and $31. The Peter Thiel-backed company is targeting a valuation of up to $4.23 billion, marking its second attempt to go public in four years. In November, Kraken, one of the world’s largest crypto exchanges, confidentially filed for a U.S. IPO, joining a wave of companies preparing for public listings.
This reignited pace has been supported by a more accommodating policy scenes in Washington. Companies operating in crypto and adjacent technologies have benefited from clearer regulatory signals, (including the recent passage of the GENIUS Act), which established an initial framework for stablecoins. Even as regulatory uncertainty around bills including the Clarity Act 2026 remains, the law has reduced some of the ambiguity that previously kept institutional investors on the sidelines.
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